President Donald Trump 's sweeping tariff authority suffered another devastating blow, with the Federal Circuit Court of Appeals ruling against his use of emergency powers to impose universal tariffs . The decision all but guarantees Supreme Court review—and when the inevitable final adverse ruling comes down from the high court, likely in summer 2026, American taxpayers could face the largest unplanned government expenditure in modern history: a massive refund bill that could easily exceed $500 billion, plus interest, at precisely the moment when Treasury markets are already showing dangerous signs of stress.

The economic stakes couldn't be higher, and Trump himself has made the situation far worse by overtly admitting that his tariffs represent such a massive economic interventi

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